Presently, there is a huge monetization of business and personal data but the fact is that only few people are benefiting from the abundant resources. The only player in the chain that is not getting any reward from the system is paradoxically the individual – who is the main source of the harvested data. Both the personal and corporate data are worth a huge sum of money. This is the time to look out for a platform or network that offers you the chance to gain full control of your data and determine the usage of the data without any interference. In view of this, the datum network system aims to reward every users registered on the platform and at the same time allow them to sell their anonymized data.
The stakeholders involved in the activities of the network include users, storage nodes, data consumers and DAT token holders. Users are the ones that submit data and the data can be personal or corporate data or the collection of both. Also, the data can be gotten from IoT devices or other data sources. For the storage nodes, it provide the storage capacity needed to keep the data in a decentralized form. The data consumers are regarded as any entity wishing to gain access to data. Users grant them data under their agreed terms either for a fee or for free. Lastly, DAT token holders provide the fuel that facilitates transactions on the network.
Datum focus solely on the empowerment of users – who are the main source of data. Datum is an open source network and is free to join. However, fees are paid to access stored data, store data and rewards are distributed to relevant parties after submitting data. Each fragment of data on the network are encrypted with usage terms. The usage terms are managed and handled by the DAT token smart contract. Users are permitted to fully control the privacy settings and can also determine the person that will later be allowed to access the data. The key development goals of the network include the following; overview of DAT token holdings, overview of storage data, comprehensive data access reports, simple privacy controls, traceable access etc.
DAT is simply a utility token that can be utilized for certain purposes on the Datum Network. These tokens are exchanged for several activities such as the usage of storage nodes and participation in the data marketplace. The DAT token ensures that all transactions on the network are processed effectively thereby providing value to the data. Another feature of Datum Network is Smart Contract which governs various aspects including the submission of users’ data, the acquisition of buyers’ data and the storage of node miners. Datum network was created by a team of professionals which include Roger Haenni (CEO), Gebhard Scherrer (Operations), VC Tran (Marketing), Theo Valich (Head of Growth), Florian Honegger (Smart Contract Expert) and a host of others. In conclusion, Datum will change peoples’ orientation about data and at same time empowers data creators and provide an effective means of storing and exchanging data.
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Author - Coltpython
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